JAKARTA. PT Surya Fajar Capital Tbk (SFAN) announced that it had increased its equity participation in PT Bursa Akselerasi Indonesia (Indofund) with an investment of Rp7.2 billion.
Evie Feniyanti, Director & Corporate Secretary of SFAN, said that the capital injection was made to maintain the company's 90 percent stake in Indofund. "The investment is in accordance with the company's business activities," said Feniyanti through a disclosure published on the Indonesia Stock Exchange's website.
Feniyanti added that the funds would be used to fund Indofund's business activities and expansion.
According to idnfinancials.com data, Indofund is a peer to peer (P2P lending company founded in 2017 with an authorized capital of Rp4 billion. In January 2019, SFAN made an additional investment of Rp1.05 billion in Indofund. About nine months later, in October 2019, the company again invested Rp3.5 billion in Indofund.